Ky. telecommunications firm acquires phone company

Louisville-based telecommunications company Lightyear Network Solutions has acquired Pikeville-based SouthEast Telephone in a $7.2 million deal.

SouthEast Telephone services about 31,000 telephone lines. While it primarily has residential customers, Lightyear Network Solutions also offers services to business customers, and it said it will benefit from being able to offer the additional products to the customer base.

For the first six months of 2010, Lightyear's revenue was $22.5 million compared to SouthEast Telephone's $16.4 million in the same period.

This story was originally published October 11, 2010 at 4:30 PM with the headline "Ky. telecommunications firm acquires phone company."